What are the responsibilities and job description for the Lead Foreclosure, Default and Recovery Specialist position at Open Opportunities?
In this hybrid role based at our Chicago headquarters, you will manage a portfolio of late-stage consumer and real estate accounts to minimize loss and maximize recovery to the credit union. Work directly with members to resolve delinquency or make recommendations for legal action through an attorney network or third-party vendors. Manage files placed with attorney network and use innovative approach to locate people and collateral such as different channels, resources or skip tracing.
Essential Responsibilities
- Utilize effective loss prevention techniques to collect on home equity accounts, consumer loans, including Auto, RV, secured, unsecured and credit cards.
- Review, analyze and propose subsequent actions for real estate secured accounts, including foreclosure ensuring adherence to applicable compliance and regulatory requirements.
- Prepare or execute legal documents and provide recommendations for initiating legal actions including replevins and suits.
- Ensure status updates with the attorney or vendor network to meet expectations and collaborate on innovative methods to locate units and or members.
- Coordinate with legal teams, third party collection agencies and repossession vendors to ensure that efforts and goals are achieved.
- Manage invoicing from repossession vendors and attorneys, ensuring accuracy and timely remittances.
- Ensure accurate understanding and proactive management of charged-off inventory, while addressing members' questions or concerns.
- Support with designing and implementing system enhancements, such as new reports, queues, views, while managing communication for successful project resolution.
- Engage with internal partners to accomplish department and organizational goals and participate in new innovative projects to improve efficient servicing operations and the success of the strategy.
- Document process improvements via training materials, procedures, and workflow. Act as subject matter expert and contact for complex escalations and skip tracing resolutions.
Education
- Minimum - High School or Equivalent
- Preferred - 4 Year Bachelors Degree in Business, Finance or Related
Years of Experience
5 Years Collections, loss mitigation, repossession, foreclosure or related
Compensation & Benefits:
Typical hiring range: $47,600 - $74,000 Annually. Actual compensation will be determined using factors such as experience, skills & knowledge.
Additional Compensation: Annual performance bonus
Benefits: Alliant provides a benefits package including health care, vision, dental, and 401k with employer match.
Additional Benefits:
- Work from home up to 3 days a week
- Paid parental leave
- Employee discount programs
- Time off including paid personal and sick days
- 11 paid holidays
- Education reimbursement
*Note that eligibility and cost of benefits can vary depending on the number of regularly scheduled hours, and job status such as regular full-time, regular part-time, or temporary employment.
Adhere to and ensure compliance of all business transactions with policy and process of the Bank Secrecy Act. Ensures compliance with all applicable state and federal laws, company procedures and policies. Maintains integrity and ethics in all actions and conversations with or regarding credit union members and their accounts; complies with Privacy Act directives.
The responsibilities listed do not contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.
Salary : $47,600 - $74,000